At number 2038th in the list of Australian suburbs ordered by increase in median house value over the last year, Wyndham Vale, 3024 is in the top half with a property value increase of -1.85% recorded in median house prices.
Wyndham Vale,3024 was ranked 2545 in Australia by increase in median property value over the quarter.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Wyndham Vale, 3024. Typically our figures indicate that -6.90% is being offered, which puts this VIC suburb at 1518th most discounted overall in Australia.
On average over the past year, suburb has had 22.08 sales per month, which equates to 265 per year.
The VIC suburb of Wyndham Vale, 3024 is in the Wyndham (C) local government area.
VIC has seen average median house prices change by 0.68% which means that Wyndham Vale, 3024 has done well for property investors by showing a capital gain of 17.10% over the last year
While Wyndham Vale,3024 ranked number 155th in VIC for increase in median house value (annualised) increase, it is ranked 20th over the last 5 years.
Vendor discounting in Wyndham Vale is giving property investors an average Vendor Discount of around -8.41%. This puts suburb at number 25th in VIC when ranking the most discounted suburbs.
Wyndham Vale is 91th on a list of best yielding suburbs for rents in VIC with a 4.71% return
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Housing stock tightens
Median house price: $445,000
Stock on market: -52.0%
12-month growth: 17.1%
The large suburb of Wyndham Vale saw housing supply halved over a 12-month period when the number of houses dropped from 589 to just 280 from February 2017-2018.
This could have helped spur demand, as the suburb recorded a 17% price increase over the same period. Nonetheless, houses are still reasonably priced at a median value of under $450,000, a possible factor in how quickly these properties are selling on the market. The average time on market is just 39 days, reflecting Wyndham Vale’s popularity.
The suburb is home to several sports clubs, who make their bases at Wyndham Vale Reserve and President’s Park. Wyndham Vale is also an education hub, with four primary schools in the area. Residents have access to amenities like medical services.